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CPC Citigroup Prfd C

8.00
0.00 (0.00%)
Pre Market
Last Updated: 01:00:00
Delayed by 15 minutes
Name Symbol Market Type
Citigroup Prfd C NYSE:CPC NYSE Preference Share
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 8.00 0 01:00:00

Inpex, Total Approve US$34 Billion Australian LNG Project

13/01/2012 12:11am

Dow Jones News


Central Parking (NYSE:CPC)
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Inpex Corp. (1064.TO) and Total SA (TOT) on Friday gave the green light to construction of one of Australia's most expensive energy projects, estimated by the pair to cost US$34 billion to build over the next five years.

The hefty price tag for their Ichthys gas-export development is broadly in line with a Citigroup estimate in June of US$32.5 billion and a recent Deutsche Bank estimate of A$31.9 million (US$33 billion) and shows that international energy companies are still prepared to place bold bets on a projected surge from Asia for fuels that burn cleaner than coal, despite current global economic jitters.

-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692; Ross.Kelly@dowjones.com

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